# US Lawmakers Related Articles

Stablecoins Get A Break? US Lawmakers Propose Tax Relief

US lawmakers have proposed a tax relief draft for stablecoins and crypto rewards. The plan, introduced by Representatives Max Miller and Steven Horsford, includes a safe harbor for regulated dollar-pegged stablecoins, exempting transactions under $200 from capital gains tax to simplify small payments like coffee or tips. Additionally, taxpayers could defer taxes on staking and mining rewards for up to five years, recognizing them as ordinary income afterward. The draft also extends wash sale rules to digital assets and allows mark-to-market accounting for certain traders. It remains a discussion draft and has not yet been formally introduced as legislation.

bitcoinist12/22 10:32